BNP Paribas Asset Management Alts (BNPP AM Alts) has appointed McLaren Construction as the main contractor for the redevelopment of the former BBC Elstree Centre, now rebranded as Fairbanks Studios.
Planning consent was secured in December 2025. Enabling and demolition works have been completed, with the main build due to begin.
The scheme covers a 16-acre site, with around half set to be redeveloped into a 266,000ft² campus for the high-end TV and independent film industry. The developer said the new facilities are expected to be operational in late 2027.
The remainder of the site was recently upgraded by the BBC. It occupies that part under a long-term lease and uses it to film EastEnders, described as one of the UK’s longest-running soap operas. The studio campus first opened as a film studio in 1914.
The redevelopment will expand production capacity by increasing stage space to approximately 100,000ft² across five sound stages. The stages are planned to range from 16,000 to 21,000ft².
Plans also include new workshops, offices, and a café, alongside a 58,000ft² Media Hub intended to provide office and amenity space for media-related industries and businesses connected to the studios.
The project is aiming for Outstanding ratings under both BREEAM and the Albert Studio Sustainability Standard. The landscaping proposals include new public open spaces and expanded urban greenery, including around 130 new trees.
The developer said the scheme is expected to boost employment, creating around 390 construction jobs and more than 1,200 full-time equivalent roles once the development is complete.
It also said the development would contribute around £80m of annual inward investment.
McLaren Construction studio projects director Paul Serkis said: “Film and high-end TV production is one of the success stories of the UK economy, and there is a real and pressing demand for high-quality production space here.
“Approved schemes in the right locations need to come out of the ground quickly to meet that demand and take full advantage of the sector’s growth potential.
“We are delighted to be working with BNPP AM Alts and Oxygen Studios to deliver Fairbanks Studios.”
McLaren Construction said its supply chain includes HarringtonsBuilders for groundworks, Aarsleff for piling, SCWS for steelwork, Halsall for MEP, and NorthernCladding for cladding.
Earlier this month, McLaren Construction secured a £99m ($134m) design-and-build contract from British Land for the 75 Davies Street office development, which sits above the West One Shopping Centre and Bond Street Underground Station on Oxford Street.
